Economy & Business
Business news, economic analysis, fintech innovations, startup ecosystems, and market trends shaping Saudi Arabia's digital economy and Vision 2030.
Korn Ferry Study Reveals Company Payrolls in KSA Could Soar Long-Term
Salaries for highly skilled workers could boom as talent shortages take hold across EMEA, according to The Salary Surge, a new study* by Korn Ferry (NYSE: KFY) as part of an ongoing Future of Work research project. Left unchecked, the salary surge could add more than $2.5 trillion to annual payrolls by 2030 in 20 […]
DirectFN is supporting HSBC Saudi Arabia to be the first electronic custodian in Saudi Arabia
DirectFN is supporting HSBC Saudi Arabia to be the first electronic custodian in Saudi ArabiaRiyadh, June 27, 2018: HSBC Saudi Arabia, one of the largest custodians in the Kingdom of Saudi Arabia, has succeeded in becoming the first company to establish the first electronic link for a custodian with the Saudi market through the ICMS […]
AI to help inform investment decisions in next 5-10 years in new ‘Future of Investment Research’ report by Thomson Reuters and Greenwich Associates
56% of institutional investors expect to increase the level of artificial intelligence (AI) integration with the investment process and 40% expect to increase their budgets for AI according to a new Thomson Reuters and Greenwich Associates report. Additionally, 70% of respondents have either implemented alternative data or plan to in next 12 months as an […]
FinTech Drives GCC Cybersecurity Market to USD 8 Billion in 2018
From facial recognition and iris scans, to crypto currency, the UAE’s banking and finance security innovation is driving the GCC’s cybersecurity market to USD 8 billion in 2018, industry experts announced today. UAE banks are rapidly deploying multi-factor authentication to confirm a person’s identity, with several factors, such as a smartphone, a password, and a […]
CoreSite Enhances Open Cloud Exchange with Ciena’s Blue Planet
CoreSite Realty Corporation (NYSE:COR), a premier provider of secure, reliable, high-performance data center and interconnection solutions, today announced that it will be launching an enhanced Open Cloud Exchange platform, utilizing Ciena’s Blue Planet® Multi-Domain Service Orchestrator (MDSO). The enhanced Open Cloud Exchange platform, which is expected to be fully operational in early July, will provide […]
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X-Cite Opens its 5th Showroom in Riyadh
X-Cite electronics, the major electronics retailer that is owned by Alghanim Industries, has opened its fifth showroom in Al-Yasmeen District, Al-Thumamah Road, Riyadh. The opening of Al-Thumamah showroom will be followed by the opening of Al-Othaim Mall branch during this month, and two other showrooms before the end of 2018. This rapid expansion is part […]
Area 2071 and SAP Collaborate on UAE Public Sector Excellence
Area 2071, the physical embodiment of the UAE Centennial 2071 Plan, has announced that it will be collaborating with global technology company SAP on innovations to help inspire creative minds and fuel digital government. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates (UAE), and Ruler […]
Al-Watania for Industries (WFI) achieves Integrated Management Systems Certification from Intertek
Intertek, a leading Total Quality Assurance provider to industries worldwide, has granted Al-Watania for Industries (WFI), a leading downstream manufacturing company in Saudi Arabia, the globally-recognised ISO 9001:2015, ISO 14001:2015 & OHSAS 18001:2007 certifications. The three certifications were awarded to WFI for successfully meeting the international standard requirements for implementing integrated Quality, Environmental and Occupational […]
Emdadat Transforms Healthcare with SAP Ariba
Today’s healthcare consumers are more educated and demanding than ever. To meet their expectations requires a well-oiled supply chain. And Emdadat is delivering it. Using solutions from SAP Ariba, the company has created a digital marketplace through which medical providers and suppliers can connect and collaborate across the entire procurement process to increase their efficiency […]
Gartner Says Worldwide Application Infrastructure and Middleware Market Grew 12 Percent in 2017
A significant shift toward digital business models that harness technology trends such as cloud computing, Internet of Things (IoT), analytics and artificial intelligence (AI) is boosting worldwide spending on application infrastructure and middleware (AIM). Gartner, Inc. numbers show that AIM market revenue reached $28.5 billion in 2017, an increase of 11.9 percent from 2016 (see […]
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INTERNATIONAL INNOVATION EXPERTS GATHER AT MIT FOR ‘DESIGN THINKING’ WORKSHOP IN SUPPORT OF MBR GLOBAL MAKERS CHALLENGE
Global innovation experts gathered in the United States at the ‘Solve at MIT’ Forum have designed a new set of challenges surrounding what they believe are the world’s most pressing sustainability issues, particularly those involving energy, rural transformation and hunger, digital divide and digital literacy. Interactive sessions, held at the forum and led by the […]
China’s Tai Cloud announces launch of UAE operations
Beijing Tai Cloud Technology, the first blockchain company in China’s new OTC market (stock code: 430070), has announced the launch of its UAE operations aimed to leverage opportunities of trading in blockchain technology. Tai Cloud is a pioneer in the research and application development of the blockchain technology system in the People’s Republic of China. […]
SWIFT’s African Regional Conference to gather up to 500 financial professionals in Kigali, Rwanda on 20-22 June 2018
SWIFT will hold the 25th edition of its SWIFT African Regional Conference (ARC) in Kigali, Rwanda on 20-22 June. Supported by the National Bank of Rwanda, ARC 2018 will bring together up to 500 high level financial representatives from across 50 countries. Under the theme ‘Transforming the future – driving a new digital economy’, delegates […]
Cloud Catalyzes Saudi ICT Market to Top SAR 127 Billion
As the Saudi ICT market tops SAR 127 billion, cloud investment will fast-track Saudi Vision 2030 goals and Smart Cities growth, according to the newly-appointed Managing Director of Saudi Arabia, SAP. Cloud investment is gathering momentum, with Saudi organizations increasing software spend by 5.5 percent, increasing the Saudi ICT market to SAR 127 billion, according […]
Successful Demonstration of INVISTA’s Latest P8 PTA Technology in China
INVISTA Performance Technologies (IPT) announces the success of its latest P8 PTA technology deployed on Jiaxing Petrochemical’s second PTA Line. Started up in record time in December 2017, the plant is now consistently operating at 100 percent design rate with a variable cost performance better than target, firmly establishing Jiaxing Petrochemical’s second PTA Line as […]
World Green Economy Summit 2018 to kick off in October amid growing adoption of new technologies
The annual World Green Economy Summit (WGES 2018) will be organised in Dubai to tackle global issues and important strategies, including the digital age and its impact on building a ‘green’ and sustainable future growth across industries. This was announced today by the organising committee of the fifth World Green Economy Summit ‘WGES 2018’. WGES […]
Kaspersky Lab Partners to Fuel Amna Al Qubaisi’s Drive for Success
Kaspersky Lab, a long-standing partner of Abu Dhabi Racing, has extended and expanded its partnership with Amna Al Qubaisi, the first Arab woman to compete in Formula 4. Al Qubaisi is a member of the PREMA racing team, and Kaspersky Lab has sponsored her since 2017. Amir Kanaan, Managing Director – Middle East, Turkey and […]
Kingdom Witnessing “Major Economic Transformation”, say Experts at Euromoney Saudi Arabia Conference
The 13th Euromoney Saudi Arabia Conference opened in Riyadh today, welcoming 1,700 delegates from 28 countries and influential speakers scores. Attracting delegates from across the Middle East and beyond, the two-day forum, which concludes tomorrow, explores financial opportunities and challenges in the Kingdom. His Excellency Mohammed Al-Jadaan, Minister of Finance, Kingdom of Saudi Arabia, officially […]
SAP’s Data Center for Public Cloud Goes Live in Saudi Arabia, Empowering Saudi Vision 2030
Today marks a major milestone in Saudi’s digital transformation, as global technology company SAP announced the first live Public Cloud Data Center in the Kingdom, empowering Saudi Vision 2030 and beyond. As Saudi organizations invest heavily in cloud solutions, the Saudi IT market is set to reach SAR 33 billion in 2018, according to a […]
Saudi media delegation visit Huawei Headquarters in China and given insider access to high-tech facilities
A delegation of Saudi media visited Huawei headquarter in Shenzhen City, China and toured the facilities of the company across two major cities in China. In order to give the journalists an understanding of the latest ICT solutions role in the digital transformation era and how ICT can assist the Saudi government in their efforts […]
Etisalat Group Reports consolidated revenues of AED 13.1 billion in first quarter of 2018
Etisalat Group today announced its consolidated financial statements for the three months ending 31st March 2018. Financial Highlights and Key Developments of Q1 Aggregate subscriber base reached 144 million, representing a year over year increase of 3%. Consolidated revenues amounted to AED 13.1 billion, representing an increase of 5% year over year. Consolidated EBITDA totaled […]
Over 50% of Saudi women believe that not having the right skills to be employed is the biggest myth hindering their success
More than half (52%) of women in Saudi Arabia believe the perception that they are not equipped with the necessary skill sets to join the workforce in the Kingdom is the biggest myth hindering their success and employment. This is according to a new research from LinkedIn, the world’s largest professional network with over 546 […]